Major design changes to Apple's new iPhone 6 lineup introduced Tuesday are expected to trigger a more than twofold increase in the number of consumers trading in old iPhones for cash this year, according to NextWorth (which is also offering AI readers an additional $20 cash bonus coupon on recent models).
As one of the industry's largest buyers of used electronic devices, NextWorth says its historical data indicates that consumers have been twice as likely to trade-in their old handsets when Apple introduces a new form factor iPhone as opposed to when it unveils an "S" model. It's specifically forecasting a 105% rise in trade-ins this year, largely due to the radical form factor change of the iPhone 6 models, which are expected to drive iPhone upgrade volumes at Apple.
Meanwhile, the prices that buyback services are willing to pay consumers for old iPhones continue their slow and inevitable decline (as can be seen in the below eBay sales data chart) following the unveiling of new models. To encourage iPhone owners to lock in a 30-day price quote early, NextWorth is offering AppleInsider readers an additional $20 cash bonus on all working iPhone 5, iPhone 5C and iPhone 5S trade-ins that are locked in by September 20th using links on AI and then applying promo code INSIDER20.
Like other leading buyback services listed in the Trade-In BuyBack Guide, NextWorth aims to make the trade-in process quick and easy for consumers who don't have the time and patience to deal with selling their iPhones through eBay, Craigslist, or other venues. To lock in a cash payout that's good for 30 days, iPhone owners can head over to NextWorth.com where they'll be asked to identify their current iPhone model and answer a few quick questions about the devices condition and attributes.
NextWorth then spits out a dollar value it's willing to pay for that particular iPhone (current prices below) and asks for a shipping address where it can send a pre-paid shipping box. Consumers then have 30 days to place the iPhone in the box and drop it in the mail. They can also choose how they wish to be paid: cash (via a check that comes within 3-10 days), PayPal (paid immediately upon inspection of your iPhone), or in the form NextWorth Discover Prepaid Card or Target Gift Card (both arrive in 3-14 days).
|Current Maximum Cash Payouts (9/9/14)|
|iPhone Model||Cash (up to):||iPhone Model||Cash (up to):|
|AT&T iPhone 4 8GB||$57.00||Sprint iPhone 5 64GB||$122.00|
|AT&T iPhone 4 16GB||$65.00||T-Mobile iPhone 5 16GB||$122.00|
|AT&T iPhone 4 32GB||$65.00||T-Mobile iPhone 5 32GB||$122.00|
|Sprint iPhone 4 8GB||$13.00||T-Mobile iPhone 5 64GB||$122.00|
|T-Mobile iPhone 4 8GB||$13.00||Verizon iPhone 5 16GB||$163.00|
|Verizon iPhone 4 8GB||$13.00||Verizon iPhone 5 32GB||$163.00|
|Verizon iPhone 4 16GB||$21.00||Verizon iPhone 5 64GB||$163.00|
|Verizon iPhone 4 32GB||$21.00||AT&T iPhone 5C 16GB||$166.00|
|AT&T iPhone 4S 8GB||$99.00||AT&T iPhone 5C 32GB||$166.00|
|AT&T iPhone 4S 16GB||$107.00||Sprint iPhone 5C 16GB||$80.00|
|AT&T iPhone 4S 32GB||$107.00||Sprint iPhone 5C 32GB||$80.00|
|AT&T iPhone 4S 64GB||$107.00||T-Mobile iPhone 5C 16GB||$155.00|
|Sprint iPhone 4S 8GB||$78.00||T-Mobile iPhone 5C 32GB||$155.00|
|Sprint iPhone 4S 16GB||$82.00||Verizon iPhone 5C 16GB||$155.00|
|Sprint iPhone 4S 32GB||$82.00||Verizon iPhone 5C 32GB||$155.00|
|Sprint iPhone 4S 64GB||$82.00||AT&T iPhone 5S 16GB||$237.00|
|T-Mobile iPhone 4S 8GB||$78.00||AT&T iPhone 5S 32GB||$237.00|
|T-Mobile iPhone 4S 16GB||$82.00||AT&T iPhone 5S 64GB||$250.00|
|Verizon iPhone 4S 8GB||$78.00||Sprint iPhone 5S 16GB||$165.00|
|Verizon iPhone 4S 16GB||$82.00||Sprint iPhone 5S 32GB||$165.00|
|Verizon iPhone 4S 32GB||$82.00||Sprint iPhone 5S 64GB||$165.00|
|Verizon iPhone 4S 64GB||$82.00||T-Mobile iPhone 5S 16GB||$165.00|
|AT&T iPhone 5 16GB||$170.00||T-Mobile iPhone 5S 32GB||$165.00|
|AT&T iPhone 5 32GB||$170.00||T-Mobile iPhone 5S 64GB||$165.00|
|AT&T iPhone 5 64GB||$170.00||Verizon iPhone 5S 16GB||$244.00|
|Sprint iPhone 5 16GB||$122.00||Verizon iPhone 5S 32GB||$244.00|
|Sprint iPhone 5 32GB||$122.00||Verizon iPhone 5S 64GB||$244.00|
Apple sold roughly 4 million iPhone 4s units in its first weekend on the market back in 2011 and followed up a year later with sales of nearly 5 million iPhone 5s units in the same three-day period. Sales exploded last year on the back of the combined iPhone 5s/iPhone 5c launch, hitting 9 million units. This steady increase of first weekend sales each year, coupled with numerous iPhone 6 upgrade options, is leading NextWorth to predict that this year's first weekend sales could "potentially reach 10 million units."
NextWorth was originally formed back in 2005 by business students at Babson College as a service to help companies setup online auctions for their used items, but altered its model to focus on electronics trade-ins a year later. It's since become one of the best known buyback services, earning a A+ rating from the Better Business Bureau and forging exclusive white label partnerships with discount retailers like Target where consumers can alternatively trade in their iPhone to get paid on the spot.